Treasury yields move higher despite weak US, China data

Government debt yields were higher on Thursday morning, despite data showing anemic wholesale inflation in the U.S. and mixed economic figures from China.

At around 4:30 a.m. ET, the yield on the benchmark 10-year Treasury note which moves inversely to price, was higher at around 2.6375 percent, while the yield on the 30-year Treasury bond was also higher at 3.0286 percent.

On Wednesday, yields rose despite the Labor Department indicating that wholesale prices barely increased in February after falling for three straight months. Overnight, data showed China’s industrial output expanded at its slowest rate in 17 years.

Stateside, investors are likely to closely monitor another fresh round of economic data Thursday. Weekly jobless claims and import prices for February will be released at 8:30 a.m. ET. New home sales for January are set to follow slightly later in the session.

Meanwhile, the Treasury is set to auction $60 billion worth of four-week bills and $35 billion worth of eight-week bills on Thursday.